I Wish There Will Be True Sincerity of Purpose on the Part Our National Assembly, FG & CBN, Let Broke That Monopoly of Dollar $ Dependent

There was nothing Buhari and his team didn't tell us then about this.

That's a very sensitive area of Nigerian diplomacy with the West and China.
That was part of the big problems Jonathan had with the west (US and western Europe) and part of the reason they didn't support his reelection.
I pray he succeeds since Nigeria imports a lot from China but I know it will be very difficult!

SoNature:
This is a good development. If we can achieve this, it will reduce the pressure on naira because most of the items we import come from China. Unfortunately, China even likes the USD more than yuan.

They only show preference to USD because of the strictness of their government in freezing accounts reported to have been used for any fraudulent transaction. They want to maintain the integrity of the currency at all cost.

Good for Nigerian. I am tired of dollar slavery

Senator when no go school is talking, the Chinese currency exchange is and can never beat dollars, so I don't understand all this low level senators we have, any na Prof rigged elections for them

Is a good move if it will come to fruition,mos of our importants are coming from china ,so why do we need dollar to buy items from china

Glassysea:
Senator when no go school is talking, the Chinese currency exchange is and can never beat dollars, so I don't understand all this low level senators we have, any na Prof rigged elections for them

Mr prof abi na ordinary graduate, most or our imports comes from china ,so why do we need us dollars to buy things from china

Slaves looking for yet another master.

Instead of prioritizing productivity and exports for economic growth, these mentally lazy twerps are thinking of adding yet another burden.

Bring it on
Long overdue..

Watcharena:
Mr prof abi na ordinary graduate, most or our imports comes from china ,so why do we need us dollars to buy things from china

Should they even be focusing on imports in the first place? Why not chanel that energy into boosting local productivity for exports. This way, you also get to reduce unemployment, poverty, mental health issues, crime, and social unrest in one swoop.

It is long over due, Dollar yanga too much ,🤣

We need a solution asap!

Will China accept Yuan as a means of International Payment? Because China themselves are looking for Yuan.

Instead of this people to find policies that will make supply of Dollar better, they are looking for how to dodge it.

SoNature:
This is a good development. If we can achieve this, it will reduce the pressure on naira because most of the items we import come from China. Unfortunately, China even likes the USD more than yuan.

False, not anymore!

SoNature:


No, it's a win for Nigeria because it will reduce the demand for our USD. Nigérians who wish to buy from Chinese companies will now use their local currency.

In other words, we can use our USD for other things instead of buying from China.

The only challenge here is that China may not even accept it because exportation is a major foreign currency earner for all countries.

China also want their currency to be stronger than the dollar. They want to earn in USD so as to convert to their currency and this will help increase the value.

rottennaija:

China likes USD more than yuan? You well so?

A lot of import comes from China. We can pay directly using Yuan....this would reduce the dependency on the usd

Good

ManirBK:
Welcome develooment

Fish brains in the lower house

While diversification has some merits, the weakening of Naira relative to dollar is no the due to lack of yuan.

SoNature:


No, it's a win for Nigeria the demand for our USD. Nigérians who wish to buy from Chinese companies will now use their local currency.

In other words, we can use our USD for things instead of buying from China.

The only challenge here is that China may not even accept it because exportation is a major foreign currency earner for all countries.

They accept it, if you have been buying from China you will know you have 2 options.

Alliswell248:


A lot of import comes from China. We can pay directly using Yuan....this would reduce the dependency on the usd

I agree. I was responding to the western bootlicker that says Chinese love USD more than their own currency

They are just kicking their cans down the road. it wouldn't change a damm thing!

malton:
Slaves looking for yet another master.

Instead of prioritizing productivity and exports for economic growth, these mentally lazy twerps are thinking of adding yet another burden.

They are always on a race to the bottom, that is what happens when clueless goons are running a so called nation.

do4luv14:



Fish brains in the lower house

this is what happens when more than half of Liegerians are ignorant dumbos! Every rubbish sounds like a "wellcome developements" to them.

This is good.

I see no reason why two countries that want to trade with each other will involve the US dollars. For what?

Currency swap, just like trade by barter, is the most natural form of trade, not exchanging to USD first, then doing business, then exchanging back to your national currency, and using SWIFT, all controlled by the US that is sanction hungry.

Calitoscassius:
this is what happens when more than half of Liegerians are ignorant dumbos! Every rubbish sounds like a "wellcome developements" to them.

They are not well informed enough, Those people can even bought lies as truth

pansophist:
This is good.

I see no reason why two countries that want to trade with each other will involve the US dollars. For what?

Currency swap, just like trade by barter, is the most natural form of trade, not exchanging to USD first, then doing business, then exchanging back to your national currency, and using SWIFT, all controlled by the US that is sanction hungry.

Bros that thing had been happening Since, before the coming of APC, not today

what I don't understand, is what they are not saying

do4luv14:



They are not well informed enough, Those people can even bought lies as truth

As i said, %85 of Liegerians are uneducated.

Calitoscassius:
As i said, %85 of Liegerians are uneducated.

Worst is even 20% of the educated once are worst

integrity16:
Would the west allow that to happen ? Do they have the balls to do it?

The US will call oga at the top and dictate to him what they wish to see done. Don't forget they have a lot of kompromat on him. He will do as instructed.